Science topic

Financial Management - Science topic

The obtaining and management of funds for institutional needs and responsibility for fiscal affairs.
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I wish to use the WOMAC questionnaire for a research study I am conducting. I have applied to http://www.womac.org but have received no reply in more than two weeks. I have also tried to get a contact for Professor Nicholas Bellamy online with no success. Has anyone had a similar issue? Can anyone advise me on how to proceed?
I appreciat any help.
Cheers, 
Shane
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I also have the same problem, Dr. Bellamy doesn't seem to be answering much..
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I am doing my research about productive waqf/endowment and searching for an example corporate has managed assets waqf well.Do you know the name of corporate and location? Many thanks previously. Helza Nova
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Assalamualaikum Helza Nova Lita
Hope not too late to share the transcription of "BUAL BICARA KEWANGAN SOSIAL ISLAM Kewangan Sosial Islam: Apa Manfaatnya?" with you.
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Commercial banks are increasingly worried about competition from fintechs, including online technology companies that expand the range of financial and pre-financial services. Commercial banks are more and more actively using IT technologies of online banking, building Business Intelligence data processing platforms, extending Big Data database systems, developing integrated risk management systems and conducting advertising campaigns on social media websites. In view of the above, large commercial banks have the opportunity to conduct a sentiment analysis on data collected in Big Data database systems for the purpose of analyzing the expectations and opinions of Internet users regarding, for example, financial services. Information obtained from the Internet and processed in the aforementioned manner can be used for more precise risk analysis, credit risk management, planning subsequent advertising campaigns, modifying the financial services offer in line with changing expectations of Internet users, searching for clients on social media portals. In this way, interdisciplinary analytical processes are also developed at commercial banks, for which the information from the websites of social media portals is the source of data.
Do commercial banks have a chance to win in this matter in competition with the fintech technology companies operating on the Internet?
Besides, What is the effectiveness of online advertising campaigns run by commercial banks?
Please, answer, comments.
I invite you to the discussion.
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Dear Denis Muchunku, Haseeb Javed,
Yes. Internet advertisements are used more and more often in advertising campaigns also by financial institutions, including commercial banks presenting their offers of banking products and financial services as well as internet mobile banking offer. During the SARS-CoV-2 (Covid-19) coronavirus pandemic, the development of electronic internet banking, including mobile banking, accelerated. Therefore, commercial banks have recently been developing mainly online mobile banking for citizens, individual clients and business entities. Recently, many banks have been conducting advertising campaigns using new online media, including social media portals, to promote their online banking offers, also offered to companies and enterprises. Banks offer the opening of an online banking account primarily for business entities from the SME sector that do not yet have a mobile banking account, do not have their own website, are startups, etc. In promotional online banking offers for companies and enterprises from the SME sector, commercial banks offer additional incentives and incentives. auxiliary services creating a website for the company, creating an online platform for selling products and / or services of the client's enterprise, creating an online store, they also offer tax advisory services, financial advisory services, etc. Banks more and more often offer their financial services through social media portals, because of the research conducted market know that their customers are increasingly actively using these new online media and that these online marketing communication channels can be the most effective.
Thank you very much,
Best regards, Greetings,
Have a nice day,
Be safe and healthy,
Dariusz Prokopowicz
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Some researchers in government accounting and public financial management use financial health and financial sustainability as synonymous terms. Do you agree with them?
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Financial health refers to the current operational state of an organization's finances analyzed using specific financial indicators. Financial sustainability also refers to the long-term approach to the level of sustainability of financial phenomena, capital in terms of the effectiveness of their use, low level of financial risks, balancing the credited production factors with an appropriate level of their profitability and efficiency, balancing inflows against expenses in the context of cash flow analysis, etc. the above concepts of financial health and financial sustainability are not the same.
Happy New Year 2022,
Be safe and healthy,
Best wishes,
Dariusz
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The current technological revolution, known as Industry 4.0, is determined by the development of the following technologies of advanced information processing: Big Data database technologies, cloud computing, machine learning, Internet of Things, artificial intelligence, Business Intelligence and other advanced data mining technologies.
In connection with the above, I would like to ask you:
Which information technologies of the current technological revolution Industry 4.0 contribute the most to reducing the asymmetry of information between counterparties of financial transactions?
The above question concerns the asymmetry of information between such financial transaction partners, such as between borrowers and banks granting loans, and before granting a loan carrying out creditworthiness of a potential borrower and the bank's credit risk level associated with a specific credit transaction and, inter alia, financial institutions and clients of their financial services.
Please reply
Best wishes
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Information asymmetry between the financial institution offering certain financial services and the client can be reduced through the increase in the use of ICT and Industry 4.0 information technologies for remote, web-based service and concluding transactions. In addition, customers can use social media portals where they share their experiences of using specific financial services.
Best wishes,
Dariusz Prokopowicz
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An important topic in the area of finance is the management of financial risk in the context of the analysis of sources of economic, financial, debt and other crises. The financial systems still have not been improved in their functioning, especially in the area of investment banking, in terms of unethical practices, the use of which was one of the significant sources of the global financial crisis of 2008.
In connection with the above in my opinion important topic on finance is the issue of risk management in the context of the analysis of the sources of the global financial crisis.
I invite you to the discussion
Dear Friends and Colleagues of RG
The issues of risk management in the context of determinants of the global financial crisis, globalization processes, technological progress and other factors I described in the publications:
I invite you to discussion and cooperation.
Thank you very much
Best wishes
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KEY TAKEAWAYS
  • The 2007-2009 financial crisis began years earlier with cheap credit and lax lending standards that fueled a housing bubble.
  • When the bubble burst, financial institutions were left holding trillions of dollars worth of near-worthless investments in subprime mortgages.
  • Millions of American homeowners found themselves owing more on their mortgages than their homes were worth.
  • The Great Recession that followed cost many their jobs, their savings, or their homes.
  • The turnaround began in early 2009 after the passage of the infamous Wall Street bailout kept the banks operating and slowly restarted the economy.
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I would like to gather information on the new technologies/innovations/inventions etc. implemented in the practice of financial management.
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Advances in technology allow for innovation in the ways businesses and individuals perform financial activities. The development of financial technology—commonly referred to as fintech—is the subject of great interest for the public and policymakers. Fintech innovations could potentially improve the efficiency of the financial system and financial outcomes for businesses and consumers. However, the new technology could pose certain risks, potentially leading to unanticipated financial losses or other harmful outcomes. Policymakers designed many of the financial laws and regulations intended to foster innovation and mitigate risks before the most recent technological changes. This raises questions concerning whether the existing legal and regulatory frameworks, when applied to fintech, effectively protect against harm without unduly hindering beneficial technologies’ development.
The underlying, cross-cutting technologies that enable much of fintech are subject to such policy trade-offs. The increased availability and use of the internet and mobile devices could offer greater convenience and access to financial services, but raises questions over how geography-based regulations and disclosure requirements can and should be applied. Rapid growth in the generation, storage, and analysis of data—and the subsequent use of Big Data and alternative data—could allow for more accurate risk assessment, but raises concerns over privacy and whether individuals’ data will be used fairly. Automated decisionmaking (and the related technologies of machine learning and artificial intelligence) could result in faster and more accurate assessments, but could behave in unintended or unanticipated ways that cause market instability or discriminatory outcomes. Increased adoption of cloud computing allows specialized companies to handle technology-related functions for financial institutions, including providing cybersecurity measures, but this may concentrate financial cyber risks at a relatively small number of nonfinancial companies who may not be entirely comfortable with their regulatory obligations as financial institution service providers. Concerns over cyber risks and whether adherence to cybersecurity regulations ensure appropriate safeguards against those risks permeate all fintech developments.
Fintech deployment in specific financial industries also raises policy questions. The growth of nonbank, internet lenders could expand access to credit, but industry observers debate the degree to which the existing state-by-state regulatory regime is overly burdensome or provides important consumer protections. As banks have increasingly come to rely on third-party service providers to meet their technological needs, observers have debated the degree to which the regulations applicable to those relationships are unnecessarily onerous or ensure important safeguards and cybersecurity. New consumer point-of-sale systems and real-time-payments systems are being developed and increasingly used, and while these systems are potentially more convenient and efficient, there are concerns about the market power of the companies providing the services and the effects on people with limited access to these systems. Meanwhile, cryptocurrencies allow individuals to make payments entirely outside traditional financial systems, which may increase privacy and efficiency but creates concerns over money laundering and consumer protection. Fintech is providing new avenues to raise capital—including through crowdfunding and initial coin offerings—and changing the way companies trade securities and manage investments and may increase the ability to raise funds but present investor protection challenges. Under statute passed by Congress, insurance is primarily regulated at the state level where agencies are considering the implications to efficiency and risk that fintech poses in that industry, including peer-to-peer insurance and insurance on demand. Finally, firms across industries are using fintech to help them comply with regulations and manage risk, which raises questions about what role finetch should play in these systems.
Regulators and policymakers have undertaken a number of initiatives to integrate fintech in existing frameworks more smoothly. They have made efforts to increase communication between fintech firms and regulators to help firms better understand how regulators view a developing technology, and certain regulators have established offices within their organizations to conduct outreach. In another approach, some regulators have announced research collaborations with fintech firms to improve their understanding of new products and technologies. If policymakers determine that particular regulations are unnecessarily burdensome or otherwise ill-suited to a particular technology, they might tailor the regulations, or exempt companies or products that meet certain criteria from such regulations. In some cases, regulators can do so under existing authority, but others might require congressional action.
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In many developing countries can't buy and keep food at least a week ,but they are spending money more than what needed  basic life.In this situation how financial literacy affecting in spending behavior .
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The findings of research shows that respondents who have low financial literacy leads to higher in spending behavior. ... Findings shows that the age above 50 years are high in spending behavior and low in financial knowledge because of low awareness of financial literacy as compared to the younger age group people.
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Good governance encompassing office management and financial management is the key to success of an institution. Financial stability is an important constituent of sustainable success.Then what could be the characteristics of a financially healthy institution?
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A few papers of mine are published about the effect of corporate governance on banks' financial performance; you may want to check them out.
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Is Initial Public Offerings (IPOs) are mispriced and underperformed in developed, developing and under developed economies?
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Depend on economic conditions, business situations , level of efficiency of stock market and economic development.
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I am trying to do a research about what could be the factors that could affect the financial management of students specifically those who are in middle school. I hope that someone will be able to give 'specific' factors that could possibly influence or affect the way students handle their own finances.
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Create a budget, Understand your income and expenses, No debt. end of unnecessary expenses.
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There is a really strange phenomenon in Chinese stock markets. When the regulation institution decides to get some new companies listed (it is noteworthy that IPO has to get permission from Securities Regulatory Commission in China), the stock market drastic falls and the Chinese investors sell out their stocks crazily.
Some argue that more stocks listed means that more money is needed by the market, but the supply is constant in the short term. So the stock price falls. But I don't think it explains well what we observe.
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This is an interesting phenomenon. I hope by now (2020), the situation has much improved.
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It was pointed out that the performance of companies where women are present in the Board of Directors is greater, so it can be deduced that the women most inherited by companies have fewer failures and therefore women can be a good choice
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Yes. I believe in this era we should not think gender as a variable for organization success or performance.
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I am doing research in financial literacy among rural household. What should I consider: money management, end needs, achieve long term goals, or i have to consider banking knowledge ATM/credit Card usage?
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There are core Standards on financial literacy from the CEE. Here you find a description which subdomains are important.
You find more papers on my Profile.
Roland
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Trust & Generational Handover in family firms
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I would suggest the following papers:
Zehrer, A., & Leiß, G. (2019). Family entrepreneurial resilience–an intergenerational learning approach. Journal of Family Business Management.
Garcia, P. R. J. M., Sharma, P., De Massis, A., Wright, M., & Scholes, L. (2019). Perceived parental behaviors and next-generation engagement in family firms: A social cognitive perspective. Entrepreneurship Theory and Practice, 43(2), 224-243.
Fendri, C., & Nguyen, P. (2019). Secrets of succession: how one family business reached the ninth generation. Journal of Business Strategy.
Behrens, J., & Tseitlin, L. (2019, July). Perceptions of Transgenerational Intentions and Nonfamily Employees´ Commitment in Family Firms. In Academy of Management Proceedings (Vol. 2019, No. 1, p. 11522). Briarcliff Manor, NY 10510: Academy of Management.
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I believe that the risk continues to grow in financial systems. This means that another global crisis can not be ruled out in the next few years. The financial system has not been repaired, and necessary investment programs for prudential systems have not been forced on investment banks. Large banks are becoming even larger. in autumn 2008 one of Lehman Brothers investment banks collapsed but several other similar ones earned in this crisis, in addition, there are many indications that they have contributed significantly to generating such a high systemic risk, they used the crisis to their business goals. The investment banks were not restricted from taking such high credit risk, which contributed to the outbreak of the global financial crisis in 2008. The system still remains vulnerable, the procedures are still not honestly observed. The fact that another global financial crisis will generate investment banks is almost certain. The only question is when will it happen?
Please, answer, comments. I invite you to the discussion.
Dear Friends and Colleagues of RG
The issues of risk management in the context of determinants of the global financial crisis, globalization processes, technological progress and other factors I described in the publications:
I invite you to discussion and cooperation.
Best wishes
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Following
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Somewhere I read it is possible, but it was not mentioned specifically about its application.
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Yes! In fact, artificial intelligence has many applications in business and may be implemented in personal financial management using either Markov theory of algorithms and neural networks depending on the specific personal financial management applications is expected to be developed.
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I am searching a research based job. As I can analyse data and write the papers to stay at home. If any professors have any project to work then you may hire. My research interest on sustainability, tourism, environmental management, financial sustainability and Islamic Finance.
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If you want to get offers here, you might want to be a bit more specific, as "analysing data" can be lots of things. For example what software you manage and have in your possession (Eviews, SPSS, Stata...) and what is your expertise, not only your interest (for example, can you manage time series, panel data, GMM GLS methods, can you manage economic growth modeling, financial market theories and which ones and so on. Wish you all the best.
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Maybe someond could suggesf me some interesting topic for dissertation. I am undegraduate of accounting and financial management.? Thank you.
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The first point of call should be your interest area and an intense google search. However, you could also consider looking at :
Financial management and profitability of small and medium enterprises
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Modern business set up is one with stiff competition from all aspect of business, be it cost cutting, profit maximization, getting as much information about your competitor as possible, personal growth ( for managers) both financial and career wise as incorporating environmental sustainability in corporate strategies. Any action touching on these areas has financial implications. How can ethics come in to help in tackling financial management issues arising from these areas?
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Ethics has a stabilizing function in financial management; the economic crisis (2000/2008) is a result of speculative transgressions, namely the new economy illusion (2000) and the housing bubble (2008). Ethics can help us to being more responsible, concerning the money burn rates and meltdowns, which are always a result of low ethical banking standards and wishful thinking.
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what are the key ratios to measure the financial Performance of a Banking Company?
thanks in advance
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ROA, ROE and NPM: mostly used. But then they’re market based measure of performance such as EPS
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Dear researchers,
As to the my analysis in C/P effect, I need to get some attribution in my discussion section. Due to the extent conceptional framework for the culture it is hard to settle a causal relationship for it containing firm performance. Just for your information, I used Denison's Organizational Model, employed cross sectional OLS model and my dependent variable is ROE. There is a slightly relation between mission trait and ROE. Except this there is no significant relation in other traits.
I beg your your empirical recommendations in this issue.
Thanks in advance,
Adem.
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Dear professor Cox,
Your analytic sounds logical and worth to try.
Thank you very much.
Adem.
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Hi
I am interested in working on fintech and I want to begin my research in this field. Therefore, I would like to be aware of the journals, conferences and scholars specialized in this area of research - with different perspectives towards fintech, such as investing in fintech, M&A in fintech, fintech and banking, cryptocurrency etc.
Thanks for your help
Masoud
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Most traditional finance journals host some special issue on Fintech and digital finance. You might want to take a look at those
1. The Journal of Finance
2. Review of Financial Studies
3. Financial Review
4. Journal of Financial Intermediation.
5. Journal of Financial Services Research
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cost of capital refers to required rate of return by the contributors of capital.
in the same way, cost of debt is the rate of return required by the contributors of debt capital.
for example, cost of debt is 10% and tax rate is 30%. then, after tax cost of debt will be 7%.
my doubt is tax saving is a befinit to the firm, but not to the debt capital holders. so, how can the after tax cost of debt(i.e., after tax required rate of return) be 7%.
it means the debt capital contributors require lesser rate of return due to tax advantage available to the firm.
thanks in advance.
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I do not quite agree with the above answers because they have attempted to answer a question that is a little ambiguous in the following respects:
"cost of debt is 10% and tax rate is 30%. then, after tax cost of debt will be 7%" Yes that is the cost of the debt liability to the borrower. But it is not the cost of debt to the lender because from the lender's perspective it is an asset not a liability. The lender will have borrowed those funds from other sources (eg customer deposits in the case of a bank, or maybe wholesale borrowing from other banks) so the lender will have a completely different and unrelated cost of debt. The lender's marginal tax rate may also be different from that of the borrower.
"so, how can the after tax cost of debt(i.e., after tax required rate of return) be 7%?" Because that is the after-tax cost of debt to the borrower not the lender, as explained above.
"it means, 7% cost of debt(i..e, after tax cost debt) is only from the company view point, but not from the debt capital contributors view point. am I right?" Yes. But in your question you have used the terms "firm", "company", "debt capital providers", "contributors of capital", "contributors of debt capital", "debt capital holders" ... which makes your question difficult to follow.
I am fairly sure you are only ever referring to Borrower and Lender. So if you only used those two terms the question would probably be clearer to understand.
Hope that helps!
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I am looking for a dissertation for my MSc research. Interested more in the accounting and accountability rather than the financial management part. Finding it difficult to find a topic that hasn't already been researched extensively.
I would appreciate any suggestions.
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There are many areas to be researched like Forensic Accounting, Benefit to Society Accounting, and so on...
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The NIM of a bank is computed by dividing net interest income by the average advances. I applied this formula to compute NIM of a state bank of India. But, i did not get the value of NIM which was reported by the company in its directors report. (i.e., 2.84 for the financial year 2016-17)
i am enclosing the extracts of the Income statement and balance sheet of the bank for the financial year 2016-17
please help me in this regard
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NIM is calculated as a percentage of interest bearing assets. For example, a bank's average loans to customers was $100.00 in a year while it earned interest income of $6.00 and paid interest of $3.00. The NIM then is computed as ($6.00 – $3.00) / $100.00 = 3%. Net interest income equals the interest earned minus the interest paid out to customers.
In particular, for a bank or a financial institution if the non-performing assets are high, their NIM will go down as the interest earning assets are that much reduced by non-performing assets.
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Good project management is science or art?
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Both, it is science and art, sure of that.
Best,
Litart
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if a company declares buy back of shares, what type of signals it provides to the stock market.
if promoters also participate in the buy back, does it indicate negative future prospects of the company?
thanks in advance.
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A buyback of shares indicates that the company has excess funds for which they do not have any immediate profitable investment opportunity available. At times, there is nothing more to be read into a buyback other than the company's intention to use such funds for repurchase rather than payment of dividends. Since buyback reduces the capital base, it will increase the EPS & DPS even with same amount of profits. Also, since buyback is often done at a premium to prevailing market price, a high premium sends signal to the market that the company perceives that its shares are undervalued.
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Project life cycle has four phases namely, (i) Initiation phase,
(ii) Planning/Design Phase (Work Breakdown Structure), (iii)
Execution/Control Phase and (iv) Closing Phase. Among these for
phases when does project purchasing process take place?
For example if ABC railway company gives a tender to construct a
bridge, then
1. When (in which phase) project agreement (purchase) will be
sanctioned with DEF construction company?
2. In which phase project identification and selection is made?
3. In which phase statement of work and project appraisal (for
proposed project) is done?
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what you mentioned is actually project procurement management which can be divided into 4 process groups; Planning, executing, monitoring and closing. I suggest you to refer pmbok guide since it is widely used as standard reference of industry best practices for project management
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I am seeking for mediator and moderator research paper on agricultural marketing management, Agricultural Production Management, Agricultural Financial Management which would support for my research.
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has SEM been applied to agriculture yet? if not, you should be able to use SEM research applied to other industries and port it to agriculture. you would merely note how SEM applied to agriculture may differ from SEM applied to the other industry
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I need to come up with a general literature of loan portfolio management and financial performance.
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1. The Concept of Corporate performance
2. The measurement of corporate performance (Discus all the measurements and there after discuss further on financial performance in 3)
3. Corporate Financial performance
4. Theories of corporate financial performance
5. Measurement of corporate financial performance
6. etc
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I need over all financial management of farmers in agriculture. I reviewed many papers its all represent the financial credit problem. I couldn't find the financial Management of farmers in agriculture papers. So, can anybody recommend some paper relate to my requirement?
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Agriculture is a dominant sector of our economy and credit plays an important role in increasing agriculture production. Availability and access to adequate, timely and low cost credit from institutional sources is of great importance especially to small and marginal farmers. Along with other inputs, credit is essential for establishing sustainable and profitable farming systems. Most of the farmers are small producers engaged in agricultural activities in areas of widely varying potential. Experience has shown that easy access to financial services at affordable cost positively affects the productivity, asset formation, income and food security of the rural poor. The major concern of the Government is therefore, to bring all the farmer households within the banking fold and promote complete financial inclusion
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Dear researcher,
We are looking for the list of the NRPS pilot counties authorized by China’s central and provincial governments. We are researching household expenditures and pension provisions in China.Could you help?
It would be extremely helpful as somebody could have a suggestion where to find this list.
Thanks a million!
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Hello Caroline, I am working in a project related to NRPS as well. Did you had any change to get such list?
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I want to connect Tourism, Real Estate and the probability of the next financial bubble in Portugal.
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Dear Peter Thank you for your concern, i will try to investigate the question, Lisbon and Oporto markets are melting and no one care about it relations with the financial sector! My best Sérgio
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economics experts and law experts
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In my knowledge you could use
  1. Ohlson O Score
  2. Zmijewski Score
  3. Distance to default
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I want papers pdf about the effect of auditing the financial statements in NGOs on their performance
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Willems, J. Seven trade-offs in measuring nonprofit performance and effectiveness / J. Willems, S. Boenigk, M. Jegers // Voluntas. – 2014. – No. 25. – Pp. 1648–1670.
Delia Corina Mihaltan et al. Analysing the financial effectiveness of the nonprofits. Case study on health nonprofits / Procedia Economics and Finance. – 2015. – No. 26. – Pp. 367 – 374.
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I will like to know the ideal measurement for Financial Innovation in the context of commercial banks. Likewise, aside R&D cost, are there any other measurements for Innovation considering some banks in the emerging countries that does not report R&D in their financial statement. Also, can intangible assets be use to measure innovation? Any assistance will be appreciated. Thanks
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Innovation can be measured by number of patents and citation per patent
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What literature do you recommend for capital budgeting methods (NPV,IRR,ARR, and Payback period in decision making?
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You may refer to the following links which contain papers on use of capital budgeting methods in decision making & the frequency of their use:
Hope this helps.
Hemlata
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Hello! I'm currently writing my bachelor thesis on analysis of financial statements of investment fund.
It is quite easy to find information about analysis of investment/mutual funds performance valuation, but quite hard to find one on analysis of financial statements (by that I mean, that I need information about what methods could be used to analyze investment/mutual fund having only its financial statements).
If you have any recommendations for informational sources regarding this topic or something that you think might be helpful in this situation, please comment!
Thank you in advance! :)
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Well I was talking about the financial statement analysis of investment funds, you can not use these methods to analyze financial statements of investment funds. It is completely different and that is the problem.
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Hello! I'm currently writing my bachelor thesis on analysis of financial statements of investment fund.
It is quite easy to find information about analysis of investment/mutual funds performance valuation, but quite hard to find one on analysis of financial statements (by that I mean, that I need information about what methods could be used to analyze investment/mutual fund having only its financial statements).
If you have any recommendations for informational sources regarding this topic or something that you think might be helpful in this situation, please comment!
Thank you in advance! :)
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COMPUSTAT is very rich source 
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Some scholars argued that the practice of IRR (and PER) by Islamic banks could misled users of financial information, where, shifting of profits to/from the reserves accounts will not show the real performance of respective organization, and this will create moral hazards problem. Agree? 
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Can manager(s) use IRR & PER to achieve their personal interests by shifting profits to achieve target profits or a kind of 'guarantee for payment of principal'? Or, IRR can be an important tool in Risk Management strategy of an institution?
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Suppose the amount is paid in earlier to the contractor before the actual payment date. For this at what interest rate should be considered to the amount which is paid earlier up to the return of money back to the owner?
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From a cash-flow shortage perspective, an early payment can be encouraged and the interest rate vary, and also the reasons. Such practice can be observed for those firms that have a restricted access to the banks' money facilities. Some countries stated specific legislation in regards of early of late payments and recommended limitation of these interest rates from 1.5 to maximum 3-5 % per year.
As Yuri mentioned, the banks have different commercial behaviors and it is not commonly seen that they are accepting early debt payments without penalties.
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Hope you are well. I am working on my MS Thesis. I am seeking some guidance from experts in finance regarding the Corporate Financial Controls (financial Controls). Is there a way to measure the financial controls? Let me be more accurate, is there any direct or indirect variable (proxy) or index to measure the Financial Controls.
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I think that these papers may be useful:
Guidry, R. P., & Patten, D. M. (2012, June). Voluntary disclosure theory and financial control variables: An assessment of recent environmental disclosure research. In Accounting Forum (Vol. 36, No. 2, pp. 81-90). Elsevier.
Hoskisson, R. E., & Hitt, M. A. (1988). Strategic control systems and relative R&D investment in large multiproduct firms. Strategic management journal, 9(6), 605-621.
Hill, C.W.L. and Jones, G.R. (2004), Strategic Management: An Integrated Approach. New York: Houghton, Mifflin Company, pp. 413–415
Hitt, M. A., Hoskisson, R. E., Johnson, R. A., & Moesel, D. D. (1996). The market for corporate control and firm innovation. Academy of management journal, 39(5), 1084-1119.
Li, Y., Liu, Y., & Zhao, Y. (2006). The role of market and entrepreneurship orientation and internal control in the new product development activities of Chinese firms. Industrial Marketing Management, 35(3), 336-347.
Best wishes
Anna
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Can we use Structural equation modelling (Using AMOS) to test the model fit for the Accounting Research with using Ratio Scale?
If yes, please guide me with the evidences from reputed journal
For Example,
Corporate governance practices and its influence on capital structurer
Variables measuring Corporate Governance
CEO Duality (Nominal Scale)
Board Size (Number, Ratio Scale)
Board Meeting (Number, Ratio Scale)
Ownership Structurer (%, Ratio Scale)
Proportion of independent directors (%, Ratio Scale)
Variables measuring Capital Structurer
Debt to Equity Ratio (Ratio Scale) To solve the above problem, can we use the Structural equation modelling (Using AMOS) to test the model fit
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let me attach recently published papers using AMOS, You may get some helpful hints.
Good luck
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There is a desire in India that the country should soon become a “cashless economy”. It is important that researchers in the fields of banking, commerce, management, ethnography, design, computer science should look into the problems that need to be addressed in taking banking to the poor and the illiterate.
The following questions are worth studying in this context:
What are the skills and knowledge required to operate a bank account, to use a debit card, and to use an ATM? Can any literate person manage these tasks? What level of literacy does one require? Can we do surveys to find out if people with low levels of education have (or do not have) useful access to banking? What are the practices for issuing cheque-books, debit cards etc.? Have any studies answering questions like these? Where have they been published?
Some of the relevant issues have been discussed in the blog post referred below. 
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India has comparative advantage in terms financial inclusion as compare to other developing countries. Majority of states still communicate in local languages which is understood by many if not all. Although most people may not be able to read or write in the local language i believe they understand when is read or spoken to them. Hence the banking technologies should look at situation where the ATM will be giving instructions in local voices not written instructions. This can allow majority of the illiterate who may not be able to read or write in English or local language benefit from the cashless transactions.
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If Market Return is negative and/or Market Return is less than Risk Free Return how should i calculate cost of equity?
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If you still have a problem with the FF factors them IIMA and Sandy Lai have their own factor returns.
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Should individual departments be given the authority to manage their own budgets or should the budgets be centrally managed by the finance department? Which one do you think is better? Why?
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Dear Gideon,
Either solution carries advantages and disadvantages. Placing budget responsibility on the individual department level will promote confidence and a sense of self-identification with the job done. From a more practical point of view, budget needs and budget handlig might be better understood at department level. However, there is a trade-off between department knowledge, expertise and experience on the one hand and the risk of slack and budget gaming on the other hand.
Budgeting on centralized level can reduce the above mentioned risks, but at the cost of less precision and more bureaucracy.
Finally, it depends on how the entity is organised and managed in terms of hierarchy and management culture. For example, a flat structure would benefit from budgeting at department level.
Also, the current financial situation must be considered. If the entity struggles economically, it might make sense to implement a hierarchical line of command with strict top-down budgets, to prevent further deterioration at department level and to achieve a turn-around.
Regarding management attitudes towards budget responibility I would like to refer you to the following literature:
- Hopwood, A., G. (1974). Leadership climate and the use of accounting data in performance evaluation, The Accounting Review 49 (3), pp. 485 -495.
- Jensen M., C. (2003). Paying People to Lie: the Truth about the Budgeting Process. European Financial Management 9 (3), pp. 379-406.
- Schweitzer M., Ordonez L., Douma B. (2001). The dark side of goal setting: the role of goals in motivating behaviour. Working Paper. Retrieved from: http://opim.wharton.upenn.edu/~schweitz/papers/AoM_Proceedings_Goal_setting.pdf
I am going to publish a research paper on budgeting, motivation and performance measurement in the near future. For your convenience, I will make a reference to my paper here.
Paul   
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I have a firm with several events in a year so that the event window of one event overlapps with the estimation window of another event. How do I deal with that? Do I need to leave the events out that have an other event in their estimation window?
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I suggest that you set the estimation window before the first event that occurs in you sample. this is viable if you have enough data before the date of the first event to get reasonably accurate estimates of the stock returns' model.
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FDI in retail has nothing to do with inflow of FDI in other sectors.The foreign investors have realised that India offers better business opportunities than many other countries.As they want to earn money on idle funds,they will continue to bring FDI in other sectors even without FDI in retail.The current fall in FDI is due to global slow down.
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Foreign Direct Investment (FDI), where it is invested, the sector to be invested in, the time to be invested all depends on the investor or owner(s) of such funds. Investors prefer to take their funds to countries or sectors that by their assessment or analysis should give high return, level of certainty and safety of their investment. FDI move to where opportunity subsist with minimal risk and reasonable returns and whether a change of tide will occur in future depends on what happens at the current FDI destination.   
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 Independent  Variable of my study is : Earning management which i want to measure through following factors.
1- executive performance
2- debt limit
3- reduction in executive performance 
How can  i measure these variables and what will be source of data used in .
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Thanks Mohamed Samy, your research work will surely help me...
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what theories can define the relationship between financial literacy (measured by its three components: knowledge; behavior and attitudes) and investment decision?
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Dear Hajaj,
I am doing research on the related topic, that is financial literacy and its impact on retirement planning. Can you guide me for the questionnaire
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Earnings management refers to attempts by management to influence or manipulate reported earnings by using specific accounting methods.
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This was a very hard concept for me to grasp when I was learning it. How could something that seems so illegal actually be legal? And, why would there be the need to dabble on that fine line between legal and illegal? The best way to answer this question is to use the acronym WISE. WISE stands for: Window dressing, Internal targets, income Smoothing, External Expectations.
Window dressing refers to the company's decision to dress up the financial statements for potential investors and creditors. The goal of this is to attract new supporters by having financial statements that look like the company's doing great. The company needs to appear to have a history of being profitable, even if it means lowering profits in one accounting period to increase profits in another. Even though this seems fraudulent, it isn't. Overall, the company is still reporting the same amount of profits, but is spreading the amount evenly over a specific time period.
Internal targets are another reason that a company may choose to use earnings management techniques. Often times, the company has set its own internal goals, such as departmental budgeting, and wants to be sure to meet those goals. No department wants to be the one to blow the proposed budget, so earnings management techniques are used to balance this out.
Income smoothing comes into play here because of the fact that potential investors generally like to invest in companies that have a continuous growth pattern. Smoothing out income generated, when there may be spikes at certain times and drops at others, allows it to appear like the company has that smooth growth pattern.
External expectations comes into play when the company has already made projections as to what their profits will be and investors now expect that exact amount of profits or more. Management may feel the need to shift revenue from one accounting period to another in order to meet the projected goal. Earnings management, quite simply, takes advantage of the different ways that accounting policies and procedures can be applied to financial reporting.
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I study 3 dimensions namely Organizational,Social and Financial Dimensions of SHG Performance. Please help me as to which method shall I use for this?Which scaling method can I use for the same. Could not find any paper helping me on this.Pls help.
Rajeev
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Hi Rajeev,
I undertook my PhD research on exclusion of the poorest of the poor women from microfinance programs (SHGs0 In southern India in 2012-2014.  I found that financial dimensions were useful however there are social dimensions that come to the fore. Social capital was found to grow and have significant impact on those women who did not become members of the SHG for various reasons - see my thesis on QUT/Library/eprints. use Knowles G E 2014 Microfinance as prompts.
See also paper attached re social capital in villages.
Willing to further discuss if you like.
regards,
Gordon.
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History says (might be wrong) that academicians fail when handling administrative jobs (like finance department, computer centers, HR department? Why (if true)? If not from your experience, what are the best qualities of such successful people?
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I have done both. And am currently in admin whilst still publishing. The key to me is that admin jobs require a totally different mindset and organizational approach than academia. I am not trying to be cruel, but academia's focus on teaching and research in no way prepares you for admin work. Teaching is about interpersonal interactions and presentation of course material you are (or should be) expert at. research is about asking questions, performing analysis to know "why" (sometimes "how") something is, and then transmitting that as some sort of pure knowledge. Admin work is about doing tasks that further some type of work, or assists decision making, usually a "what". That is, admin work is about a concrete result where the theoretical aspect is not very important. The modes of communication are totally different. Academic work is based on your qualifications, networks and reputation derived through your research and publications (taken broadly). Academic work requires communications based on your position in the organization (not hugely important in academia), your specific role in how the university runs (specific in admin and quite general in academia), and your hierarchical relationships (tightly defined in admin an both tight and loose in academia - by that I mean an academic has a specific role, teach course x, and relative freedom to do whatever they want at the same time). So academics have totally different work styles and learnt behavior that lead to success. E.g. An academic gets multiple goes at a paper. An admin person gets one go at a paper. The audience for the academic paper is peers, probably sympathetic to the work. The audience for the admin paper is senior people that expect a certain template of work, done in a certain way leading to certain answers in a set timeframe.
So many academics fail because they bring academic work and communication styles to admin work. this means they are slow, inaccurate/sloppy (as defined by the admin work), and often communicate in a way that conflicts with how the place runs.This in no way indicates that academics are inferior in any way. It is simply how academics are taught to work, think and communicate.
Most admin/business people won't succeed in academia because they don't think in the right way. they don't explore the why issues. They approach things with the attitude that so long as 'that bit of work is OK then 'what's he problem'? When to an academic there is no linkage to broader theoretical frameworks, structures of empirical findings in the area and modes of communication in invisible colleges.
Hope that makes sense. Many people work well in both areas. But the logic of success is so different.
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Impact of currencyu fluctuation in indian it sector
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Time series is the best reflection of any fluctuation.
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Are fixed assets Banking contribute to net income, knowing that some applied studies demonstrated no relationship between them.
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Dear Ali Bni Lam
I quite agree to Tesfaye Boru that we are not easy to observe the effects of fixed assets on bank efficiency since the bank fixed assets have important role in keeping the customer confidence in bank ability beside the operating role as usual firms.
In other side, I suggest that we should consider on intangible fixed asset such as software, IT...that have strong impact on the precedures of banking activities and the satisfaction of customers.
Cheers
Phuc Canh
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I want to compare GDP with Tax rate and I am unable to find historical tax rates of Pakistan.
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As suggested by Satrio, you may be able to find semi-reliable ways to calculate historic tax rates from other historical financial information, such as financial statements.  I am not sure if you have them in Pakistan, but UK, US and Australia do have publicly available detailed financial reports for nearly all listed companies with detailed tax notes to the accounts from which it would be possible to obtain historic income tax, and goods and service tax rates.  If that suits the purpose of your research you could then explain how you obtained the estimation data as part of your write-up.  
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About the joint distribution of profits, and alternatives to tax lien functions
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STILL FAR FROM BECOMING ACTUAL LEGISLATION, JUDGING BY POLITICAL LEADERSHIP (NOW INCLUDING MRS. CLINTON HERSELF), TPP WOULD BE ONE OF THOSE.
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I am interested to compare two time varying correlations series. Is there any statistically appropriate method to make this comparison.
Thank You
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Thank you too!!
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what is the impact of earnings quality on shares prices ?
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There is a ratio called price earning ratio. So, it indicates that there is some impact of earning on prices of share. It is positive. It is quite difficult to determine the extent of positive relation between these two. It may vary according to companies even from time to time.
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It suggested that the distinction between banking operation and banking services on the basis of the debt, meaning that each activity banker contains two parties by the creditor and party obligor is banking operation such as loans, while the example of banking service is the rent lockers they do not contain the two parties creditor and the debtor.
Do you agree with this vision?
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My impression is that you are trying to reinvent the hot water. Besides the active and passive banking operations, the "neutral banking operations" category.covers exactly the same services you would like to distinct with a new name.
Moreover: I would not think it is a good idea to redefine such a fundamental term like 'banking operation' - it would cause a confusing situation in the profession.
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-Trying to define "exit rate" based on how a certain population leaves a program
-Outliers are programs that keep the sample for longer periods of time
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In the religious circle, we call exit rate 'outflow'. I know the way we have worked with accurate statistics on this phenomenon has been monthly maintenance and update of membership database. 
Not sure this is answer you are looking for but it's been working for us
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Commercial banks financial performance
banks important and problems
banks in economic development
banks reforms in india
banks 21st century
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You may download the financials of commercial banks in India from their respective web sites. Look at three key things: CASA ratio and NPA ratio. These are key drivers of ROE.
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I computed the Auto-Correlation Function (ACF) and the Partial Auto-Correlation Function (PACF) of inflation in eviews 8 and may I ask among AR, MA or ARMA, which process seems most appropriate and how I interpret it? Thank you
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Look this material:
After you read the ACF and PACF, the Ljung–Box-Pierce statistic will tell you if you chose correctly.
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financial management in NGOs
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I would add:
Joel Zimmerman,(2004) Using a Balanced Scorecard in a Nonprofit Organization,  Creative Direct Response, Inc
 
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You can review the continuation of Nike case analysis on my blog (www.emfps.blogspot.com).
In this article, I have depicted below concepts:
1) Capital Asset Pricing Model (CAPM)
-Is there any interaction between beta (B) and share price of Nike / S &P500 index?
- Geometric mean or Arithmetic mean. A paper submitted by www.mit.edu
- The adjusted beta in the reference with Blume's technique
2) The Constant-Growth Valuation (Gordon) Model
3) Appendix: My detail calculations to explain my spreadsheet about the cost of debt (Method (2): Based on calculating of IRR)
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I do not think your analysis is out of place
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Any publications you can recommend?
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Google history of financial institutions in Nigeria
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The definition of both income smoothing and being ethical remain vague, and in some situations, confusing. Preparers, auditors and stockholders are equally perplexed as to the extent of income smoothing that remains ethical, and the events or situations smoothing of income would deemed ethical. The dilemma remains not until the profession could clearly define and guide us on avoiding conflicts between these two. Let us have a dialog on defining these two jargons, and identifying the situations and extent that income smoothing would remain ethical.
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Income smoothing is pure dishonesty. Accounting is based on rules, conventions, and judgments. One of the most important is the consistency convention. If an accountant engages in income smoothing, look deeply: Some rules and principles have be bent to satisfy a particular income target
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Spin-offs involve  a quotation on the Financial market. So something like an IPO takes place. At the same moment a change of CEO and a change of board of directors structure may happen. So do you have any information concerning a potential real management of earnings that may take place before and after the spin-off (Papers,...).?
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Dear Professors;
Dear Professor Patrick;
According to Huang et al. (2012),  a long CEO tenure increases his rooting, and therefore, he becomes more consist about the situation of the firm. Ali and Zhan (2015) found that earnings overstated behavior is more likely to be in the early years of CEOs’ service. This finding has been explained by the fact that in the first years of CEO's service, the manager has an incentive to inflate the earnings in order to influence the market about his qualifications. Ali and Zhan (2015) argue that, after building his reputation, the manager will avoid the earnings overstatement, which if detected, could damage his reputation. 
We have meet dear professor during the TSFS conference in Tunisia last year, and I am really happy to follow your research.
All the best
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when i run CVaR portfolio model in matlab i can just see final variable but i also need simplex final tableau.
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There are at least two ways to reach the goal. 1. Create portfolio optimization algorithm from stratch (in Matlab or any other language), so that you have access to all interior variables, including the final simplex tableau. 2. Use a third party portfolio optimization algorithm implemented (say) in Matlab. In the latter case answering your question requires having the third party code in front of ones eyes. Cuold you please point to the place where the code resides?
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An issue surrounding dividend policy is the type of distribution: cash or share repurchase.
The tax argument strongly favors share repurchase, and financial managers appear to place high value on financial flexibility. So, why would firms choose cash dividends over share repurchase?
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You may be also in front of a "clientele effect". I mean old and retired people may need revenues, and prefer some regular payments, instead of non constrained share repurchases.
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Futures allocation using Shaking optimization algorithm.
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Consider online portfolio switching algorithms. Assuming you have at least two assets, then the algorithm will generate an allocation vector, ie. 40% to asset A, and 60% to asset B. 
Since American futures exchanges do not allow you to be long and short at the same time, you can use a long version of A and a short version of A, (same with asset B), giving you four inputs. Then the allocation vector will tell you long or short as well for each asset.
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For our research centre I'm trying to find a good software tool that takes care of most/all aspects of contract and grant funded research projects. I haven't found one that integrates applications, financial management, time management, collaboration, all in one place. Does anyone have a tip? 
The tool I'm looking for should be user friendly and should handle:
- managing grant / contract applications / tenders
- budgeting
- keeping track of hours worked by team members
- financial tracking
- collaborating during the actual research project
- task management with milestones, automatic reminders
- document editing/revising
- removes the need to send e-mails outside the system
I can find lots of tools that do some of these things, but none that do them all and are actually user friendly. The best thing I found so far is called EMDESK but it's specifically aimed at European research.
If anyone has a good tip you will have my eternal gratitude.. :)
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Hi Mandy,
you need some sort of project management software like MS-Project. That should come with your microsoft copy office. It is quite good in terms of producing charts, workflows, cashflows etc. 
ProjectLibre is a good alternative and it is open source, hence free.
Hope that helps
Nikos
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In general, it is acknowledged that the managers are better informed than the shareholders. Also, controller shareholders seem to be better informed than the minority shareholders. How to measure the information asymmetry? Can we connect information asymmetry with the dividend policy of companies? 
For instance, some studies prove that "Firms that pay consistently high dividends have lower insider returns than do firms that pay consistently low dividends" (e.g., Kenneth Khang and Tao-Hsien Dolly King, Financial Management, Vol. 35, No. 4, 2006). 
Thank you in advance!
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Hi, Victor:
Interesting question. A recent research study (Bohren, Josefsen & Steen, 2012) compared the dividend policy of owner-controlled firms with that of firms where the owners are a minority relative to non-owner employees, customers, and community citizens.
The authors found that regardless of whether owners or non-owners control the firm, the strong stakeholder uses the dividend payout decision to mitigate rather than to intensify the conflict of interest with the weak stakeholder. Hence, the higher the potential agency cost as reflected in the firm’s stakeholder structure, the more the actual agency cost is reduced by the strong stakeholder’s dividend payout decision. These findings are consistent with a dividend policy in which opportunistic power abuse in stakeholder conflicts is discouraged by costly consequences for the abuser at a later stage. Indirect evidence supports this interpretation!
  • Bøhren, Ø., Josefsen, M. G., & Steen, P. E. (2012). Stakeholder conflicts and dividend policy. Journal Of Banking & Finance, 36(10), 2852-2864.
Hope this helps!
Nadeem
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how we can use these models in stock market?
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I am strongly agree with the answers/discussions of Prof. Natasa Golo & Prof. Panagiotis Andrikopoulos.
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It is said that south asian management concentrate less on financial market especially share prices of the company than American and european companies listed on stock exchange
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I am not familiar with this literature but Suk Kim at University of Detroit does research in this area and publishes a journal on issues relating to Korea. 
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Thinking of conducting a study on financial management in universities in India. Would assume the business models and the financing would be similar for the educational institutions - at least broadly. 
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